Excelsior Correspondent
Srinagar, June 1: Government today said Jammu and Kashmir has lower Credit Deposit Ratio in comparison to the National Average.
In a written reply to a question of MLA M Y Tarigami in Lower House, the Minister Incharge said the aggregate Credit Deposit Ratio on 31st March 2016 in respect of all banks operating in J&K stood at 49.11% against the national average of 60%.
The Minister stated due to small agriculture landholdings in J&K together with conversion of agricultural land for non-productive purposes the ticket-size of bank lending under agriculture sector happens to be very low.
The Minister further said the State lacks industrial growth. “There are no big or medium industrial units operating in the State with the result the bank lending in the heavy and medium enterprises sector is negligible and whatever bank lending takes place in the industrial sector happens to be in small and micro enterprises which is very small ticket lending,” he said.
The State Government has launched various employment generation and poverty alleviation schemes for unemployed youth and poverty elevation schemes for the unemployed youth and all the banks operating in the State are being constantly pursued to ensure substantial improvement in lending under the schemes, the Minister further added.
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